BlackRock Credit Allocation Income Trust (NYSE:BTZ) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Shares of BlackRock Credit Allocation Income Trust (NYSE:BTZ) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $10.18 and traded as high as $10.27. BlackRock Credit Allocation Income Trust shares last traded at $10.2150, with a volume of 332,524 shares trading hands.

BlackRock Credit Allocation Income Trust Stock Performance

The business’s 50 day simple moving average is $10.18 and its two-hundred day simple moving average is $10.40.

BlackRock Credit Allocation Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.0839 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%.

Hedge Funds Weigh In On BlackRock Credit Allocation Income Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new stake in BlackRock Credit Allocation Income Trust during the 1st quarter valued at $34,000. Comerica Bank raised its stake in shares of BlackRock Credit Allocation Income Trust by 136.5% in the third quarter. Comerica Bank now owns 4,063 shares of the investment management company’s stock worth $45,000 after purchasing an additional 2,345 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of BlackRock Credit Allocation Income Trust in the third quarter worth $103,000. Stephens Inc. AR bought a new position in shares of BlackRock Credit Allocation Income Trust during the first quarter valued at $106,000. Finally, Equitable Holdings Inc. bought a new position in shares of BlackRock Credit Allocation Income Trust during the third quarter valued at $113,000.

BlackRock Credit Allocation Income Trust Company Profile

BlackRock Credit Allocation Income Trust (NYSE: BTZ) is a closed-end management investment company sponsored by BlackRock Fund Advisors. The trust seeks to provide investors with a high level of current income, as well as the potential for capital appreciation, through an actively managed portfolio of credit and income-producing securities. BTZ primarily focuses on instruments that offer attractive yields while aiming to preserve capital over the long term.

The portfolio is diversified across a broad spectrum of credit sectors, including investment-grade corporate debt, high-yield bonds, leveraged bank loans, residential and commercial mortgage-backed securities, and asset-backed securities.